GenCorp Slips To Loss In Q4; To Repurchase Up To $75 Mln Of Share - Quick Facts

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(RTTNews.com) - GenCorp Inc. ( GY ) said that net loss for the fourth quarter of fiscal 2013 was $3.7 million or $0.06 loss per share, compared to a net income of $2.8 million, or $0.05 income per share, for the fourth quarter of fiscal 2012.

Net sales for the fourth quarter of fiscal 2013 totaled $485.3 million up from $298.2 million for the fourth quarter of fiscal 2012. The increase in net sales was primarily due to the acquisition of the Rocketdyne Business which contributed net sales of $182.6 million in the quarter.

The company estimates that its non-cash retirement benefit expense will be approximately $36 million in fiscal 2014 compared to $65.0 million in fiscal 2013.

GenCorp announced that its Board has authorized a share repurchase program of up to $75 million. Share repurchases may be made by GenCorp from time to time in open market transactions at prevailing market prices or in privately negotiated transactions.

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